KUALA LUMPUR, Nov 30 – The collective action of some trader associations in determining price of goods and services in the country is one of the reasons why prices have risen, causing a burden to consumers. Universiti Kebangsaan Malaysia (UKM) vice-chancellor, Prof Datuk Dr Noor Azlan Ghazali said this also created unheathy competition among traders as they could no longer compete to determine the price of goods.
“If they cooperate to increase productivity and efficiency, that is very much encouraged. But here in Malaysia, most of the associations work together in determining pricing which can be very unfair to consumers,” he said at a forum entitled “Addressing the Rising Cost of Living” here on Saturday.
Dr Noor Azlan said this negative action should be curbed and the government should monitor trader associations to promote competition and fair trading and to ensure consumers in the country were not victimised by unscrupulous traders. The inaugural forum, organised by the UMNO Information secretariat and Overseas UMNO Club Alumni, was officiated by UMNO Information chief who is also the Deputy Minister of International Trade and Industry, Datuk Ahmad Maslan.
Noor Azlan added that if there was healthy competition between traders, consumers would be able to make choices on their purchase and enjoy better service at competitive rates. He said the lifestyle of the people who live beyond their means also contributed to the rising cost of living.
Meanwhile in a press conference after the forum, Ahmad said the PKPK formula which covers education; skills; productivity and entrepreneurship could help address the high cost of living. He said people who are educated, skillful, productive and engaged in entrepreneurship were able to increase their income and could easily absorb cost increases.
